Company Valuation: Donaldson Company, Inc.

Data adjusted to current consolidation scope
Fiscal Period: July 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 8,312 6,685 7,618 9,009 8,386 10,345 - -
Change - -19.58% 13.95% 18.26% -6.91% 23.36% - -
Enterprise Value (EV) 1 8,599 7,140 7,618 9,313 8,874 11,998 11,623 11,255
Change - -16.97% 6.69% 22.25% -4.71% 35.2% 1.62% -3.17%
P/E 29.5x 20.5x 21.7x 22.1x 23.6x 24.5x 20.7x 18.3x
PBR 7.28x 5.88x - 6.06x 5.76x 6.3x 4.73x 4.39x
PEG - 1.1x 2.41x 1.3x -2.42x 0.9x 2x 1.4x
Capitalization / Revenue 2.91x 2.02x 2.22x 2.51x 2.27x 2.81x 2.48x 2.36x
EV / Revenue 3.01x 2.16x 2.22x 2.6x 2.4x 3.09x 2.78x 2.57x
EV / EBITDA 17.1x 13x 12.7x 14.1x 12.7x 16x 13.9x 12.6x
EV / EBIT 21.5x 16x 15.2x 16.9x 15.3x 19.3x 16.5x 14.7x
EV / FCF 25x 42.6x 17.9x 22.8x 25.9x 28.1x 23.6x 23.1x
FCF Yield 4% 2.35% 5.6% 4.38% 3.85% 3.55% 4.24% 4.34%
Dividend per Share 2 0.85 0.89 0.94 1.02 1.11 1.22 1.295 1.352
Rate of return 1.28% 1.64% 1.5% 1.36% 1.54% 1.29% 1.45% 1.51%
EPS 2 2.24 2.66 2.9 3.38 3.05 3.85 4.308 4.873
Distribution rate 37.9% 33.5% 32.4% 30.2% 36.4% 31.7% 30.1% 27.7%
Net sales 1 2,854 3,307 3,431 3,586 3,691 3,886 4,178 4,379
EBITDA 1 504 550.7 602 661.5 701 748.8 838.4 891.2
EBIT 1 399.5 446.9 502 550.5 580.5 621 706.4 763.8
Net income 1 286.9 332.8 358.8 414 367 453.8 501.8 558.6
Net Debt 1 286.7 454.7 - 304 487.9 1,074 1,278 909.7
Reference price 2 66.19 54.41 62.83 74.82 71.97 89.25 89.25 89.25
Nbr of stocks (in thousands) 125,585 122,866 121,242 120,405 116,520 115,911 - -
Announcement Date 9/2/21 A 8/31/22 A 8/29/23 A 8/28/24 A 8/27/25 A 8/26/26 A - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.9x2.95x15.77x1.35% 10.35B
233.85x3.65x22.89x - 4.59B
18.29x2.71x12.78x1.88% 3.61B
26.19x - - - 1.22B
33.37x2.24x19.06x0.53% 800M
Average 66.92x 2.89x 17.63x 1.25% 4.11B
Weighted average by Cap. 69.76x 3.04x 17.04x 1.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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